"Hon'ble
Lt. Governor Sh. Manoj Sinha Addresses J&K Start-up Conclave 2023"
Announces
New Startup Policy 2023 with Seed fund for start-ups and one incubation center
in each district of Jammu and Kashmir
Srinagar, September 16th2023 - Hon'ble Lt.
Governor Sh. Manoj Sinha addressed J&K Start-up Conclave 2023 at SKICC Srinagar.
The event was organised by Jammu Kashmir Trade Promotion organisation,
Department of Industries & Commerce, Jammu and Kashmir in collaboration
with Entrepreneurship Development Institute and Department of Handloom and
Handicraft, Kashmir. The organizing partner for the said event were Fast Beetle
and Launch Pad Jammu and Kashmir.
Day long sessions were held during the course of event
wherein sessions were held by experts from various parts of the country on
Scaling start-ups, Crafting narrative, Journey of startup, branding, etc `
Speaking at the occasion Shri. Manoj Sinha highlighted how
policy reforms is changing the landscape of Jammu Kashmir through growth in
industrial investment, tourism, ease of doing business, innovation, technology
advancement, favourable climateand other major incentives by the government.
Jammu & Kashmir has been ranked the “Top Performer” as
per the “Start-Up India Ranking 2021”. J&K has undergone evaluations in
seven Reform Areas that significantly contribute to advancing the startup
ecosystem within the UT. Remarkably, J&K has demonstrated outstanding
performance in the Reform Areas of 'Institutional Support,
Manoj Sinha said that the Government is dedicated to
fostering an environment where start-ups can thrive, and today, I am thrilled
to announce that our renewed Start-up Policy 2023 has been drafted and shall be
notified by next month.The Jammu Kashmir government is planning to launch
Start-Up policy 2023 to fosters young entrepreneurs by providing support for
market access, Infrastructure development for working space, patent related
assistance, mentorship assistance and many more. This Start-up Policy is not
just another document; it is a roadmap for nurturing innovation, creating jobs,
and driving economic growth. It is a testament to our commitment to support the
bold and creative minds that dare to dream and build the businesses of
tomorrow.
Mr Sinha said that through startup policy the Government
shall provide Seed Funding: A one-time assistance up to 20 lakhs in 4 equal
instalments to start-ups recognized by the Government of J&K.
Government shall also provide Capital grant on setting
up/scaling up incubator and accelerator infrastructure in J&K with
assistance upto INR 50 Lakh/ incubator. There shall be at least 1 incubator in
every district.Apart from the above, Loan Guarantee Program, Patent related
assistance, market access and assistance for mentorship shall also be provided
There shall be a comprehensive Start-up Assistance Program
wherein it will encompass a wide array of opportunities and resources aimed at
empowering our budding entrepreneurs through:
•Mentorship programs by connecting our start-ups with
seasoned experts who will provide insights, advice, and guidance to navigate
the challenges of entrepreneurship.
•Actively collaborating with angel investor networks and
financial institutions to ensure that our entrepreneurs have the financial
support they need to turn their ideas into reality.
•Collaboration with premier institute like IIMs and IITs
which will enable us to offer world-class entrepreneurship programs, ensuring
that our start-up founders receive top-notch education and mentorship.
Last year 1.88 Crore tourists visited J&K out of which 20,000 were international
tourists, providing excellent platform for hospitality, wellness, and leisure
enterprise development. There is 59% growth in international tourist after the
successful conclusion of G20 summit in Jammu Kashmir.The discovery of 5.9
million tonnes Lithium reserve found in Reasi District of J&K has open new
frontier for growth and innovation in Electric Vehicle, Automobile, and
Aerospace technology enterprises.
The Hon’ble Lieutenant Governor Sh. Manoj Sinha was the
chief guest on the occasion, Sh. Vikramjit Singh, Commissioner Secretary
I&C, Sh. Vijay Kumar Bidhuri, Divisional Commissioner, Kashmir, Sh. Mr.
Aijaz Ahmad Bhat, Director, JKEDI, Sh. Khalid Jahangir, Managing Director,
JKTPO, Sh. Mahmood Ahmad Shah, Director, Handloom & Handicraft, Kashmir,
Sh. Mr. Mohammad Aijaz, Deputy Commissioner Srinagar along with Start-Up
leaders, industry stalwarts from India & Middle east along with other participants
were present at the event. During the event an audio visual was showcased
highlighting the start-up eco-system in Jammu Kashmir, followed by unveiling of
‘start-up journal’ by the Hon’ble LT. Gov Sh. Manoj Sinha.
The Start-Up conclave was day-long event comprising of sessions
by subject experts and thought leaders on Crafting Narratives - Every Brand is
a story (The art of story building): Ankur Warikoo, Yashraj Akashi, Khalid
Wani, Rahul Navrekar, Ishfaq Mir; A deep dive – The Journey of Start-Ups: Sandeep
Kaul, OneilKhosa, Vivek Raina, Rajat Tuli, Kunal Harisinghani; All About
Fundraising (Angel, Impact, Incubation, PE): Anuj Sharma, Saurabh Mittal,
Namrata Kaul; Scaling Startups - The art of growth: Manoj Agarwal, S. Majumdar,
Abhijeet Ray, Pragya Mishra, Rohin Mittal; Setting the Tone (Kashmir Landscape,
Opportunities & Challenges): Muheet, Sami, Yousuf, Abid Rashid ,Ubair Shah,
Rubina Tabassum, Sheikh Samiullah, Yousuf Shakeel, Fawzal Kabeer, Arush Mahajan.
Earlier, Sh. Vikramjit Singh, Commissioner Secretary I&C
during the welcome address appraised the audience about Government’s visions to
foster entrepreneurship in the UT of J&K through innovation, funding
opportunities and export promotion by nurturing entrepreneurs from Jammu
Kashmir to make their mark globally.
He said that The J&K Startup Enclave, 2023, is designed
to engage a diverse audience, including investors, entrepreneurs, government
officials, and a mix of stakeholders. This inclusivity is essential to create a
holistic ecosystem that fosters innovation, investment, and collaboration.
Sh. Ishfaq Mir, Co-founder, Kashmir Box during the closing
remarks expressed his gratitude towards Hon’ble Lt. Gov Sh. Manoj Sinha ,prominent
speakersand other participant for gracing the event with their presence. He
also appreciated the efforts by the government of Jammu Kashmir to nurture
entrepreneurs in the Union territory.